Good job, Austin. After a turbulent year, the Capital City is now experiencing lower unemployment rates — 3.5%, compared to the nationwide average of 4.8% — and is breaking records for the number of employed residents. 👔
And the jobs just keep on coming.
Samsung’s $17-billion chip factory is predicted to bring another 8,500 jobs to Central Texas next year, and Tesla’s gigafactory is set to add even more.
The city’s population growth has also led to an increase in job postings by 49% in the metro area in the last year, according to the Chamber of Commerce’s recent report. That’s 92,103 jobs — more than double the number from five years ago. 📈
The occupations most in demand are:
- Management — 13,000+ jobs
- Computer and mathematical — 12,000+ jobs
- Sales and related — 9,000+ jobs
- Office and administrative support — 8,000+ jobs
- Healthcare practitioners and technical — 7,200+ jobs
The number of jobs posted this year is 30,000+ more than were posted in 2019. | Graphic via the Austin Chamber of Commerce
But the staggering growth in itself sparks a problem: Austin needs workers.
The staffing shortage affecting much of the nation is also hitting ATX industries. A recent report by Workforce Solutions Capital Area shows that while there are more than enough jobs for everyone, they may not match the skillset of the city’s unemployed workers.
Here’s how this affects specific industries:
- Healthcare + social assistance:
- 8,000+ open jobs
- 61% of the unemployed workforce may need training to advance to open positions
- Accommodation and food services:
- 5,400+ open jobs
- 85% of the unemployed workforce may need training to advance to open positions
Of all the current job openings in Austin, more than half require education beyond a high school diploma.
On the bright side, Austin salaries are still the second-highest in the state. On average, those in the metro area earn $57,833, second only to Midland, TX. 💰